Essentra's shares dropped 25% due to declining European demand and slower Americas recovery, revising full-year profit forecast to £40-42m.
Essentra, a UK-based plastic products manufacturer, saw its shares plummet 25% due to a decline in European demand and a slower recovery in the Americas. The company revised its full-year adjusted operating profit forecast to £40-42 million, down from £48.4-49.7 million. Despite the downturn, analysts maintain a "buy" rating, citing a strong balance sheet and potential for future growth. Essentra faces pressure to recover to remain in the FTSE 250 index.
September 17, 2024
5 Articles